Strategy
The betting plan supports 4 basic trading strategies, each of which can have an optional stop loss bet.
•Back Then Lay - Bet1 will be a back bet and Bet2 a lay bet. The BTX expects that Bet1 will be at a higher price than Bet2 in order to have the potential to make a profit and will not allow the plan to be attached to a market if this is not the case. If a Stop-Loss bet is included in the plan then this will be a lay bet which should be at a price that is higher than that of Bet1.
•Lay Then Back - Bet1 will be a lay bet and Bet2 a back bet. The BTX expects that Bet1 will be at a lower price than Bet2 in order to have the potential to make a profit and will not allow the plan to be attached to a market if this is not the case. If a Stop-Loss bet is included in the plan then this will be a back bet which should be at a price that is lower than that of Bet1.
•Straight Back - Bet1 will be a back bet. There is no Bet2. If a Stop-Loss bet is included in the plan then this will be a lay bet which should be at a price that is higher than that of Bet1.
•Straight Lay - Bet1 will be a lay bet. There is no Bet2. If a Stop-Loss bet is included in the plan then this will be a back bet which should be at a price that is lower than that of Bet1.
Simple back bet example.
Having selected a strategy you must select which Selections the plan is applicable to:
•Ticked Selection(s) – The bet plan applies to all selections that have been ticked in the Selections list for the Market(s) that the plan is attached to. Note that Selections cannot be ticked/unticked while trading is in progress.
•Any Selection – The bet plan applies to any selection in the market that satisfies the required conditions for betting.
•Favourite(s) – · The bet plan applies to any mix (singular or multiple) of the top 10 favourite selections. The Favourite being identified by the lowest last price matched. On the Selections list the first 3 favourites are always identified. If the market has a bet plan attached that has the Favourites option and has any of the favourites from 4th to 10th ticked, then these will also be identified (only those included on the bet plan). During the pre-event period the favourite(s) may change as the market moves. You should be aware that this could result with betting on more than one 1st favourite say, but you can control this via the Max No of Bet 1’s setting. When the market turns in-play the last set of pre-event favourites are frozen and will not change as the market progresses. So betting on the favourite during in-play applies to the selection that was favourite at the end of the pre-event period according to the last prices matched.
Depending on the chosen strategy you is required to specify values and settings for up to 3 separate bets, Bet 1, Bet 2 & Stop Loss. Bet 1 is the only mandatory bet, bet 2 and stop loss are optional.